Lighthouse Investment Partners LLC Invests $650,000 in PENN Entertainment, Inc. (NASDAQ:PENN)

Lighthouse Investment Partners LLC bought a new stake in PENN Entertainment, Inc. (NASDAQ:PENNFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $650,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tyler Stone Wealth Management increased its holdings in shares of PENN Entertainment by 34.0% during the third quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after purchasing an additional 500 shares during the period. Westside Investment Management Inc. boosted its position in shares of PENN Entertainment by 3.7% during the 3rd quarter. Westside Investment Management Inc. now owns 14,852 shares of the company’s stock worth $341,000 after acquiring an additional 525 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after acquiring an additional 553 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of PENN Entertainment by 8.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,952 shares of the company’s stock worth $285,000 after acquiring an additional 826 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of PENN Entertainment by 20.0% during the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock worth $140,000 after acquiring an additional 896 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David A. Handler acquired 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the transaction, the director now owns 283,450 shares in the company, valued at approximately $4,234,743. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Felicia Hendrix purchased 16,157 shares of the business’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $15.47 per share, with a total value of $249,948.79. Following the acquisition, the chief financial officer now directly owns 68,596 shares in the company, valued at $1,061,180.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David A. Handler purchased 40,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was purchased at an average cost of $14.94 per share, for a total transaction of $597,600.00. Following the acquisition, the director now owns 283,450 shares in the company, valued at $4,234,743. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 76,157 shares of company stock worth $1,154,949. 2.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PENN. Raymond James began coverage on shares of PENN Entertainment in a research note on Tuesday, May 21st. They set an “outperform” rating and a $20.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 3rd. Canaccord Genuity Group decreased their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Friday, May 3rd. Finally, Truist Financial raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.30.

Read Our Latest Stock Report on PENN

PENN Entertainment Stock Performance

Shares of PENN stock opened at $17.25 on Tuesday. The stock has a market capitalization of $2.63 billion, a P/E ratio of -2.32 and a beta of 2.06. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The firm’s 50 day moving average is $16.49 and its 200 day moving average is $20.02. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $29.38.

PENN Entertainment (NASDAQ:PENNGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.35 earnings per share for the current year.

PENN Entertainment Company Profile

(Free Report)

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.

See Also

Institutional Ownership by Quarter for PENN Entertainment (NASDAQ:PENN)

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